Andrew Neil has torn into Rachel Reeves after she boasted that the economy had enjoyed a “strong start to the year”. The brutal put-down came after new GDP figures revealed that the economy grew by just 0.3% in the second quarter of 2025, much less than the 0.7% growth in Q1.
While the figure was stronger than the 0.1% level widely expected by economists, the uptick only came due to increased activity in June, bouncing back after two consecutive months of decline. Amid warnings that the economy is now drifting, Ms Reeves took to X to insist she’s getting the results she wants. The Chancellor said: “Today’s economic figures are positive with a strong start to the year and continued growth in the second quarter."
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Rachel Reeves claimed the economy had enjoyed a 'strong start to the year' (Image: Getty)
“But I know there is more to do to deliver an economy that works for working people - and rewards working people.”
Veteran broadcaster Andrew Neil promptly took the Chancellor to task for her claim, pointing out the economy is in major trouble.
Mr Neil blasted: “Rate of Growth in Q2 is under half what it was in Q1 yet this is a ‘strong start to the year’?!
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“And with Q3 looking worse than Q2?
“But with inflation the highest in the G7, unemployment rising, vacancies collapsing and borrowing costs the highest in the G7 I think we can all agree there is ‘more to do’.”
Rachel Reeves has consistently promised to secure the fastest rate of GDP growth in the G7, however today’s figures further undermine her pledge.
Andrew Neil slammed Ms Reeves' record (Image: BBC)
The UK was miles behind the US, which enjoyed a whopping 3% growth in the second quarter of the year.
It tied with France, also on 0.3%, but was behind Italy’s 0.7% and Japan’s 0.4%.
Germany and Canada were at the bottom of the league, with the former reporting a small contraction and the latter yet to publish figures but expected to come in about 0.1%.
The UK Growth Commission warned that the UK’s figures suggest the economic is “drifting along with no real power in its sails.”
Chairman Shanker Singham warned: “Only the radical surgery we have suggested can stimulate the type of growth necessary to start to bend the debt curve… The EU reset means - far from regulatory reform - the UK is aligning to Eurozone regulations at a time when the Eurozone is growing even less than the UK, and some parts of it experience no or negative growth. So the headwinds are strengthening, as the UK drifts along with no real power in its sails.”
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The Institute of Economic Affairs said that while today’s release may relieve tensions of an imminent recession, “growth is still too weak to fix the public finances, or encourage hiring and investment, and there are already signs that the positive momentum is fading again.”
“There are already signs that consumer and business confidence are stuttering again as inflation picks up further and as another punishing Budget looms in the Autumn.
"The near-term prospects for the economy are still grim. As ever, more state intervention, more public spending, more borrowing, and even more taxation cannot lay the foundations for sustainable growth."
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